J.P. Morgan Comments on Blackboard's Q4 10 Results (BBBB)

J.P. Morgan is out with its report today on Blackboard (NASDAQ: BBBB), commenting on Q4 10 results.

In its report sent to clients, J.P. Morgan writes, "BBBB reported Revenue/ Non-GAAP EPS of $117.7M/$0.34 compared to our estimates of $116.8M/$0.33 and street's $117.7M/$0.34. There was $1-1.5M of Presidium expenses in opex not considered when 4Q10 guidance was given and our estimates were made, adding that back operating margins would have been 16.8-17% to our 16.1% estimate. The higher expense was offset from below the line benefit from Presidium leading to the one cent upside."

J.P. Morgan maintains Overweight, with a $52 PT on BBBB.

Shares of BBBB closed yesterday at $39.01, down 0.31% from Wednesday's close.